Fixed-Rate Home Equity Loan
reach further. dream big.
Do you have a large, one-time expense that you’d like to finance? You may be able to capitalize on your home equity to make that happen. Borrow up to $350,000 and enjoy predictable monthly payments at a low, fixed rate.
You can borrow up to $350,000 on your primary residence with a Fixed-Rate Home Equity Loan
Full Value Loans
Allegacy offers a maximum loan-to-value ratio of 100% on a member’s primary residence
Payments are predictable and affordable thanks to a low, fixed rate due on a monthly basis
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When you become an Allegacy member, the benefits aren’t just individual. When you invest with us, we invest in arts, education, health and community service organizations throughout the Triad. It brings us joy to help our community thrive. It’s also the right thing to do.
APR=Annual Percentage Rate. The Allegacy Fixed-Rate Equity loan is a fixed-rate Rate that is based on your credit history and profile and, like terms, are subject to change without notice. Member can obtain credit advances up to 5 years (the draw period). After the draw period ends, the loan is setup on a repayment schedule not to exceed 15 years. During the draw period, the payment is equal to the finance charge (interest) that accrued on the outstanding balance during the preceding month. (For example, a $125,000 loan financed for 180 months at 7.99% APR would result in an approximate monthly payment of $1,194.25. Taxes and insurance not included, your actual payment obligation will be higher.) The total maximum line of credit amount for the loan is $350,000 up to 100% LTV on primary residence and up to $100,000 on secondary residence. Appraisals are required on loan amounts of $100,000 or greater. There is no annual fee or prepayment penalty fee. Allegacy will pay up to $500 towards the closing costs. Homeowner’s insurance and, if applicable, flood insurance is required. Interest may be tax deductible; consult tax advisor for details.